Detail

Area

India

Commodity Group

Sugar

Commodity

All

Date

01/03/2014

Policy Category

Trade

Policy Instrument

Export subsidies

Description

Notified an incentive of 3,300 rupees ($53.20) per tonne for production of raw sugar for exports in an attempt to bring down its stockpile by promoting exports. The government will provide incentive for export of 4 million tonnes of raw sugar produced in the 2013/14 and 2014/15 sugar marketing years, that run from October to September. The incentive of 3,300 rupees will be applicable for exports in February and March. From April onwards, the incentive will be recalculated after every two months depending on the rupee-dollar exchange rate.Mills need to pay incentives to make cane payments to farmers, it added. ($1 = 62.0300 Indian rupees)